Kuwaiti Oil Barrel Price101.45 Date:08-08-2022

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OAPEC hails Saudi Green and Green Middle East of Initiatives


The Secretary General of Initiatives the Organization of Arab Petroleum Exporting Countries (OAPEC) Ali Bin Sabt praised on Monday,( the initiatives), (Saudi Green) and (Green Middle East) which was recently announced by Prince Mohammed Bin Salman the Crown Prince and Deputy Prime Minister. Therefore Bin Sabt has mentioned in a press statement that, these two will set the direction of the Kingdom and the region by protecting the land, nature and placing it on a map with clear ambitious landmarks, which will contribute strongly to realize global aspirations. Also, it was added the two initiatives has confirmed the leading the role of Saudi Arabia as a major global oil producer and the kingdom’s contribution to international efforts to climate change. Therefore, was cleared that the two initiatives will contribute to enhancing the Kingdom’s active role in stabilizing the global energy markets in general oil and gas markets in particular and reflect the Kingdom’s desire to lead the next green era. Also the two initiatives have complement Saudi Arabia’s efforts to protect the plant during its presidency of the 20th group from last year, which was resulted in the issuance of a special declaration of the environment like the adoption of a circular carbon economy, the establishment of the first environment working group and the launch of two international initiatives to reduce land degradation by protecting the coral reef. Bin Sabt assured the seriousness of the environmental challenges in the Arab region, which were mentioned in the two initiatives including: the challenges of desertification that pose a real economic threat to the region countries. A serious step was praised in the Middle East initiative on Saudi Arabia’s efforts and partnership with fraternal states in order to, plant 40 billion additional trees in the Middle East. The initiative has aimed to plant 50 million trees and the biggest reforestation program in the world, which is twice the size of the Great Green wall in the coast. The second biggest regional initiative of this kind, the Saudi Green initiative include important aspects in raising vegetation, reducing carbon emissions, combating pollution and land degradation and preserving marine life. Bin Sabt mentioned OAPEC’S follow up on the environment and climate change issues, it confirms that facing the potential negative consequences cooperation between different countries to reduce greenhouse gas emissions rates. Also, he pointed out two initiatives that would contribute the international efforts to climate change, enhance competitiveness, create million jobs and partnerships. Also, he noted the importance of the contribution of international and regional organizations, by supporting the two initiatives by working with the Kingdom of Saudi Arabia, to achieve the principle of the international cooperation in the field of the environment.

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Announcement of Exercise No.1/2022-2023

Oil Ministry Announcement of Exercise No. 2023/1-2023 The Ministry of Oil announces the offering of an internal practice for a period of 3 years, which is: Internet service provision This is in accordance with the general and specific conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from (Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department) during official working hours starting from Sunday 26/6/2022 AD, for an amount The amount of 75 Kuwaiti Dinars (seventy-five Kuwaiti Dinars) is not refundable, and the deadline for submitting bids is on Thursday 7/7/2022 AD at 2:00 pm, in the Practices Fund of the Ministry of Oil, and the bids are valid for a period of 90 days as of From the date of opening the bid envelopes, the value of the initial guarantee for this bid is 2%, and it should be valid for the duration of the bid Bid validity period, noting that the exercise is indivisible.

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